FRANKFURT (Reuters) - Hannover Re is mulling acquisitions but will likely avoid large targets, its chief executive said on Friday.

“We are constantly looking at acquisitions, but one of the reasons we have a favourable expense ratio is that in the last 20 years, we never had to integrate a large acquisition,” Ulrich Wallin told an analyst conference.

“We are not terribly keen on paying any goodwill,” he said, adding that any acquisitions would more likely be in life reinsurance than in non-life.

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